Quiznos Is Restructuring Again?
“We have reached an agreement with our lenders and equity partners, and look forward to continuing to work constructively together to establish a framework that will position Quiznos and our franchisees for future growth and success.”
In other words, (according to the Wall Street Journal) Quiznos missed a debt payment.
Quiznos Franchisees Are Not Out Of The Woods Yet
From a Robert Frost poem:
The woods are lovely, dark, and deep,
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep.
A sizable number of Quiznos franchisees have stuck it out for the past two years while others closed up shop.
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And, some people, tempted by discounted franchise fees, purchased the rights to open new Quiznos franchises.
I wonder if they’re regretting it.
Quiznos franchisees have felt uneasy for years. The dude who started the chain stepped down in 2010 and then came back, even though he wasn’t very well-liked by franchisees.
I haven’t felt very confident about Quiznos chance of success, but I’m not giving up yet.
No one wants to see 2000-3000 franchise units close up shop.
What else needs to change at Quiznos?
What do franchisees…who are teetering on the edge here, want?
I know what I want.
I want this franchisor to get it together.